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Council authorizes gas hedging covering 25% of projected summer 2030 and winter 2030‑31 use
Summary
Eden Plus’s council approved a Public Works motion authorizing city staff to hedge 25% of expected natural gas use for summer 2030 at $3.10 per decatherm and 25% for winter 2030‑31 at $5.65 per decatherm, and to extend necessary contracts with the carrier.
During the Public Works portion of the agenda, council considered and approved a motion to authorize the city to enter gas‑hedging contracts covering 25% of expected natural‑gas use for two future periods.
The motion directed staff to hedge 25% of expected use for summer 2030 at a price of $3.10 per decatherm (or better) and 25% of expected use for winter 2030‑31 at $5.65 per decatherm (or better), and to extend agreements with the carrier as needed to execute those contracts. A council member moved the motion and Council member Sorkin seconded it; the proposal passed by voice vote.
Council discussion noted the city typically hedges multiple years forward; no dissent was recorded. The motion authorizes staff to finalize any contract extensions necessary to implement the hedge.
Why it matters: Hedging locks in prices for a portion of expected consumption and can reduce budget volatility; the financial terms and the share of use hedged will affect future utility budgets.
